A crackdown on tax-avoiding multinational companies is on the way.
The Government has bowed to public concerns our tax system unfairly favours large corporates.
LISTEN ABOVE:Â Tax law professor at Auckland University Craig Elliffe speaks to Mike Hosking
The moves, outlined in a recent cabinet discussion paper exclusively obtained by the NZ Herald, follow rising concern about tax fairness from both opposition parties and local chief executives.
The discussion document's proposals are due to be circulated for public consultation in February.
It would see Inland Revenue investigators granted more powers, the burden of proof shifted to multinational companies in disputes over transfer pricing, and a loophole allowing companies to claim they have no taxable presence in New Zealand closed.
Revenue Minister Michael Woodhouse said the measures - which involve law changes - would better-arm Inland Revenue to tackle the problem.
They may be accompanied by more funding for the department.
Read the full story by Matt Nippert of the NZ Herald here
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